Cleaning & Restoration Breaking News

Jobless Claims Rise in Latest Week

February 27, 2003
/ Print / Reprints /
/ Text Size+
WASHINGTON (Reuters) - The number of Americans seeking initial jobless benefits rose to the highest level in more than two months, the government said on Thursday, underscoring the sluggishness in the labor market.

The Labor Department said first-time jobless claims, a guide to the job market and the pace of layoffs, rose for the second straight week, rising to 417,000 for the week ended Feb. 22 from a revised 406,000 the week before and its highest since 438,000 in the week ended Dec. 14, 2002. Wall Street economists had forecast new claims of 386,000 for the latest week.

The department originally reported the number of new applications for state jobless benefits at 402,000 in the Feb. 15 week.

The massive snowstorm that ravaged the East Coast from the mid-Atlantic region to New England appeared to have had no effect on the initial claims data, the department said. Nearly all the states were able to report their actual claims activity, the department said.

A more reliable barometer of employment market trends, the closely watched four-week moving average reached 399,750 in the Feb. 22 week, up from 395,750 in the prior week.

Economists view the four-week average as a better gauge of labor market trends because it irons out weekly fluctuations caused by holidays and seasonal factors.

The number of workers continuing to file for benefits fell to 3.38 million in the week ended Feb. 15, the latest week that data is available, from a revised 3.42 million the previous week.

In a preliminary poll by Reuters, analysts said they expected unemployment rate for February to rise to 5.8 percent from 5.7 percent in January. The Labor Department will release its employment report on March 7, and it is expected show the economy created only 24,000 new jobs outside the farm sector. In February payroll jobs rose 143,000.

In a separate report from the Commerce Department, new orders for durable goods -- those meant to last three or more years -- advanced 3.3 percent in January, a stronger showing than Wall Street analysts had expected.

Did you enjoy this article? Click here to subscribe to i Cleaning Specialist Magazine.

You must login or register in order to post a comment.



Image Galleries

The 2014 Experience Conference and Exhibition

A look in photos at the 2014 Experience Conference and Exhibition, which was held from April 24-26 at the Embassy Suites Convention Center and Spa in Frisco, Texas.

1/27/15 2:00 pm EST

Grow Your Business and Improve Operations with New Payment Technology

Attend this free webinar to learn how new developments in payment technology can help you close more jobs, increase upselling opportunities and improve operations.


While winter is considered the "slow season" for carpet cleaners, it can also be a season of great opportunity. In this episode of The Hitman Advertising Show, John Braun offers advice for keeping revenue consistent during the cold weather months so you're thriving - and not just surviving - the winter.
More Podcasts

ICS Cleaning Specialist Magazine


2015 Jan/Feb

The Jan/Feb ICS issue features content on cleaning services during the winter time, commercial cleaning, rug cleaning, new with rugs, marketing for restoration and new products.

Table Of Contents Subscribe

Janitorial Work

In addition to residential and commercial carpet cleaning, do you do any janitorial work on the side?
View Results Poll Archive


The Carpet Cleaner's Book of Unlimited Success! (ebook)

Don’t worry about the recession or about your competition.  Now you can be the owner of over 400 ways for carpet cleaning professionals to make more money and get more jobs!

More Products


Director_Buyer.jpgThe premier resource and reference guide for the cleaning and restoration industries.

Click here to view


facebook_40.png twitter_40px.png youtube_40px.png


Truckmount.jpgEquipment listings and specifications from the leading industry manufacturers.

Click here to view